UK Retail Sales jump 2.9% MoM in May vs. 1.5% expected

The UK Retail Sales rebounded 2.9% MoM in May, a big beat.
Monthly Core Retail Sales for the UK jumped 2.9% in May.
GBP/USD holds gains above 1.2650 after upbeat UK data.

Dhwani Mehta FXStreet

The United Kingdom (UK) Retail Sales rebounded 2.9% over the month in May after falling 1.8% in April, the latest data published by the Office for National Statistics (ONS) showed Friday. Markets predicted a 1.5% uptick in the reported month.

The Core Retail Sales, stripping the auto motor fuel sales, rose 2.9% MoM, against the previous decline of 1.4% and the market forecast of 1.3%.

The annual Retail Sales in the UK rose 1.3% in May versus April’s 2.3% drop while the Core Retail Sales increased by 1.2% in the same month versus -2.5% previous. Both figures outpaced expectations.

Market reaction to UK Retail Sales report

GBP/USD picks up fresh bids on strong UK data release, up 0.10% on the day to trade near 1.2670, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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